Reorganisations, restructuring and insolvency

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Demergers Reorganisations and tax Restructuring and insolvency Tax and distressed debt

Latest Tax News

Finance Bill 2025 update: Public Bill Committee to begin in January

Finance Bill 2025 update: Public Bill Committee to begin in January
FTT considers meaning of interest and decides that an element of redress payments constituted interest (NHS Mid & South Essex ICB and others v HMRC)

FTT considers meaning of interest and decides that an element of redress payments constituted interest (NHS Mid & South Essex ICB and others v HMRC)

The following Tax news provides comprehensive and up to date legal information on FTT considers meaning of interest and decides that an element of redress payments constituted interest (NHS Mid & South Essex ICB and others v HMRC)

Tax weekly highlights—19 December 2024

Tax weekly highlights—19 December 2024

The following Tax news provides comprehensive and up to date legal information on Tax weekly highlights—19 December 2024

FTT applies carried-forward losses anti-avoidance rule (Blackfriars v HMRC)

FTT applies carried-forward losses anti-avoidance rule (Blackfriars v HMRC)

The following Tax news provides comprehensive and up to date legal information on FTT applies carried-forward losses anti-avoidance rule (Blackfriars v HMRC)

Featured Tax content

Direct tax treatment of damages and compensation payments

Direct tax treatment of damages and compensation payments

Direct tax treatment of damages and compensation paymentsWhere a dispute is brought to an end by a payment of damages or compensation, whether under a...

VAT treatment of parking facilities

VAT treatment of parking facilities

VAT treatment of parking facilitiesThis Practice Note is about the VAT treatment of parking facilities.This Practice Note contains references to EU...

The double taxation treaty passport scheme (DTTP scheme)

The double taxation treaty passport scheme (DTTP scheme)

The double taxation treaty passport scheme (DTTP scheme)The double taxation treaty passport scheme (DTTP scheme) enables a borrower to apply for and...

What is an intangible fixed asset?

What is an intangible fixed asset?

What is an intangible fixed asset?Part 8 of the Corporation Tax Act 2009 (CTA 2009) is a specific corporation tax regime that applies exclusively to...

Practice notes

What are capital allowances and capital expenditure?

What are capital allowances and capital expenditure?What are capital allowances?Capital allowances are the means by which tax relief is given for some...
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Produced in partnership with Martin Wilson
2nd Mar
Practice notes

Commercial service charges—VAT implications

Commercial service charges—VAT implicationsThis Practice Note is about the VAT treatment of non-residential service charges. General positionService...
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Produced in partnership with Martin Scammell
1st Mar
Practice notes

Amortisation of intangible fixed assets

Amortisation of intangible fixed assetsWhere a company acquires (or otherwise incurs capitalised expenditure upon) an intangible fixed asset that...
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Produced in partnership with Anne Fairpo
2nd Mar
Practice notes

VAT treatment of damages and compensation payments

VAT treatment of damages and compensation paymentsA damages or compensation payment may attract VAT. This depends on exactly what the payment is for....
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2nd Mar
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Practice notes

Taxation of gambling in the UK

Taxation of gambling in the UKCoronavirus (COVID-19): in light of the coronavirus crisis, HMRC has announced a change to the way returns for General...
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Produced in partnership with Carl Rohsler of Memery Crystal
1st Mar
Practice notes

VAT treatment of intermediaries, agents and disbursements

VAT treatment of intermediaries, agents and disbursementsFor VAT purposes, an intermediary is a person who makes arrangements for, or facilitates, a...
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Produced in partnership with John Fuszard of Sagars Accountants Ltd
2nd Mar
Practice notes

Tax—Finance Act 2022—progress through Parliament [Archived]

Tax—Finance Act 2022—progress through Parliament [Archived]ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note...
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1st Mar
Practice notes

Taxation of UK LLPs

Taxation of UK LLPsA UK limited liability partnership (LLP) is a body corporate for company law purposes, but is generally taxed as though it were a...
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1st Mar
Practice notes

Transfer pricing and private equity transactions

Transfer pricing and private equity transactionsIP COMPLETION DAY: The Brexit transition period ended at 11pm on 31 December 2020. At this time...
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Produced in partnership with Batanayi Katongera of Macintyre Hudson
2nd Mar
Practice notes

What is a trade for tax purposes?

What is a trade for tax purposes?A company is subject to corporation tax on the profits of its trade or trades in accordance with the rules found in...
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1st Mar
Practice notes

Taxation of trading profits—basis, receipts and deductions

Taxation of trading profits—basis, receipts and deductionsOnce a company has established that it has a trade (for which see Practice Note: What is a...
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2nd Mar
Practice notes

Partnerships and VAT

Partnerships and VATA general partnership is treated, for VAT purposes, as though it were a separate taxable person.This note is about:•the nature of...
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2nd Mar
Practice notes

Types of lending

Types of lendingOverdrafts, term loans and revolving credit facilitiesThree common types of loan facility are:•overdrafts•term loans, and•revolving...
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2nd Mar
Practice notes

Ordinary share capital—what it means and why it matters for UK tax purposes

Ordinary share capital—what it means and why it matters for UK tax purposesThe concept of ordinary share capital is important for UK tax purposes....
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Produced in partnership with Michael McGowan
1st Mar
Practice notes

Corporation tax loss relief—trading losses

Corporation tax loss relief—trading lossesA company that has incurred a trading loss in an accounting period can, in general, use that loss by:•making...
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1st Mar
Practice notes

Tax issues on a scrip or stock dividend

Tax issues on a scrip or stock dividendWhat is a scrip dividend and why do companies make them?A scrip dividend, also referred to as a scrip or stock...
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1st Mar

Popular documents

Clearance letter—TCGA 1992, ss 138 and 139(5), ITA 2007, s 701 and CTA 2010, s 748

Clearance letter—TCGA 1992, ss 138 and 139(5), ITA 2007, s 701 and CTA 2010, s 748[Team Leader][insert HMRC address][insert date]Application for clearances in advance under [section[s] 138[ and 139(5)] Taxation of Chargeable Gains Act 1992][ and ][section 701 Income Tax Act 2007[ and section 748

Joint and several liability of company directors and certain other individuals for tax debts of companies

Joint and several liability of company directors and certain other individuals for tax debts of companies and limited liability partnershipsThe Finance Act 2020 (FA 2020) introduced measures enabling HMRC, in certain insolvency-related circumstances, to make:•directors, shadow directors and certain

Share for share exchanges and qualifying corporate bonds (QCBs)

Share for share exchanges and qualifying corporate bonds (QCBs)Some company acquisitions that involve a corporate buyer will be structured so that the consideration payable is the issue of new shares and/or loan notes by the buying company. The selling shareholders exchange their existing shares for

Transfer of a trade under common ownership

Transfer of a trade under common ownershipSometimes the restructuring of a business will involve a company transferring an existing trade to a different company under the same ownership.Where certain conditions are met, rules in Chapter 1, Part 22 of the Corporation Tax Act 2010 have the effect that